UPDATE 1-Bayer names Pfizer's Brandicourt as head of healthcare

Reuters Staff

2 Min Read

* To take over from interim head on Nov. 1

* Brandicourt to drive growth from promising new drugs

* Has been member of Pfizer executive leadership team

FRANKFURT, Sept 30 (Reuters) - Germany’s Bayer named Pfizer executive Olivier Brandicourt as the new head of its healthcare division, where he will oversee the market launch of a range of potential blockbusters.

He will take over from Bayer Healthcare interim head Wolfgang Plischke on Nov. 1, Germany’s largest drugmaker said in a statement on Monday.

Brandicourt, who was a member of Pfizer’s executive leadership team, will be responsible for taking new drugs to market, including stroke prevention pill Xarelto, eye drug Eylea and cancer treatment Stivarga and to translate successful drug trials into revenue growth.

A 30 percent increase in Bayer’s shares over the last 12 months shows high expectations that the new drugs will offset an expected decline in sales of its multiple sclerosis drug and some birth control pills, which are hit by rival products.